DOE Recognizes Charm Industrial in Carbon Dioxide Removal Purchase Pilot Prize | Charm Industrial

The United States government is starting to buy carbon removals and Charm is one of the semifinalists for 10 purchases up to $3M each.  The U.S. Department of Energy (DOE) selected semifinalists based on criteria that prioritize “comprehensive and rigorous life cycle analysis, techno economic analysis and thorough background and support for its commercial readiness.”

The U.S. Department of Energy (DOE) has selected Charm Industrial as one of the 24 semifinalists for the first phase of the Carbon Dioxide Removal Purchase Pilot Prize. As part of this program, Charm Industrial will receive $50,000 to support the scale up of permanent carbon removal via bio-oil sequestration, and has the opportunity to compete for up to an additional $3M in DOE carbon removal purchasing. Biomass CDR has immense potential, and we’re excited to see DOE’s support for responsibly implemented Biomass Carbon Removal and Storage (BiCRS) pathways.

Charm Industrial's technology involves converting agricultural and forestry residues into a carbon-rich bio-oil through pyrolysis. Bio-oil is stored underground, effectively sequestering carbon and preventing it from re-entering the atmosphere. Following the science-backed protocol for Bio-oil Geological Storage, Charm Industrial addresses carbon emissions but also utilizes biomass residues, making it a sustainable solution for CO2 removal. 

The DOE’s Carbon Dioxide Removal Purchase Prize is a first of its kind effort from the federal government to help innovators to scale the industry, and the DOE’s technology inclusive approach is an important step towards creating a diverse, scaleable market. The DOE's recognition of Charm Industrial's approach underscores the potential of pathways that use biomass residues as a feedstock in the broader carbon removal landscape. This support will help Charm scale its technology, improve efficiency, and increase the overall impact of its carbon removal operations.

But it’s not just about removing carbon. The CDR Removal Purchase Pilot Prize is dedicated to building a foundation for Just, Sustainable, and Scalable Carbon Management. Selection as a Phase I finalist represents not only our ability to reliably remove carbon at scale, but also the role we can play in enabling an inclusive climate transition. 

US Secretary of Energy Jennifer Granholm at the Advancing a Clean Energy Future with Voluntary Carbon Markets event in DC

Charm Industrial is committed to improving the communities in which we operate. This includes creating new jobs in engineering, project management, and community coordination, reducing wildfire risk by reducing forest fuel load, and helping plug abandoned wells across the United States. 

By partnering with local governments, conservation groups, and communities, Charm aims to reduce forest fire risks through biomass processing and enhance soil health with nutrient-rich char byproducts. Additionally, using bio-oil injections to plug abandoned oil and gas wells will remediate local pollution and safety hazards. These initiatives reflect Charm Industrial's dedication to environmental sustainability and community enrichment.

The public sector will be critical to helping scale the CDR market to gigatonne scale. Many of our early partners – like JPMorgan, Shopify, Meta, and Frontier – are helping pave the way for additional frameworks and public sector support. We’re excited for the US Department of Energy to step in and play an outsized role in scaling CDR going forward. 

Now on to Phase II and putting more carbon underground.